Instacart Doubles Valuation With $265 Million Funding Round

, the company announced today.Forbes

calculates has a net worth of $3.5 billion. Mehta became a billionaire last year after the company raised $225 million in June. Four months later he closed a $200 million Series H round that more than doubled Instacart’s valuation to $17.7 billion. It was valued at $7.9 billion in early 2020. Business has been booming for Instacart as consumer demand for delivery and pickup services continues to grow amid the pandemic: Online grocery purchases have jumped to 10% of the $1 trillion industry during the pandemic, more than triple what they were at the end of 2019.

“We saw five years of growth in a matter of five weeks,” Mehta, a former supply-chain engineer for Amazon

Have you reached out to pets .com for comment?

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Good investment? What would happen after the pandemic? Because people would want to go into actual, physical, stores.

I did my research and I must confess, no one handles business like you do sir gigsfrid it my privilege to work with you.

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